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Hi Gurus, I am the 3rd owner of a 4RM HDB flat and am the only one paying the mortgage of the flat to support my parents. There are several BTO launches that attracts me and I was thinking of upgrading to a 5RM flat instead. 1) Can I apply for the BTO flats? 2) My mortgage is not cleared so if I can get a BTO flat, I need to deposit 20% of the purchase price? (10% cash and 10% CPF) 3) Once BTO completes, i will need to sell my current flat within 6 mths? Thanks and appreciate your reply.
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1 Answer

Mike Lim
Replied
Afternoon,

Is your current unit under direct purchase or resale? Did you take any grant or HDB loan? Is your current income more than $8k? If you do, then this BTO will be your second direct purchase. Your chances are slimmer than 1st timer. But if you exceed the income ceiling, you will not be eligible for the selection.
Yes, once you get your keys to the BTO unit, you have to sell away your current unit, within 6 months.

FYI
Mike Lim
 96929209 
ERA Read More
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